EUR/JPY Price Analysis: Next target on the upside remains at 146.70

• EUR/JPY reverses Thursday’s pullback and pokes with 145.00.
• Further gains could challenge the 2023 high at 145.56.

EUR/JPY leaves behind Thursday’s marled retracement and briefly surpasses the 145.00 hurdle on Friday.

While further range bound trading seems likely for the time being, the cross is expected to accelerate its gains once the 2023 high at 145.56 (March 2) is cleared. Above this level comes the December 2022 top at 146.72 (December 15).

In the meantime, while above the 200-day SMA, today at 141.77, the outlook for the cross is expected to remain positive.

EUR/JPY daily chart